Should You Buy a House When You PCS?

Should you buy house when you PCS?  Many soldiers PCS to a new duty station and are faced with the choice of either renting, purchasing or moving into Military Housing.   It can be a difficult decision if you know that you are only going to be at your new place of duty for 36 months or less.

Here are a few things to consider when deciding whether or not you should buy a house when you PCS to Fort Stewart, Georgia:

1. Do you WANT to be a home owner?
   1. Home ownership is the American Dream
   2. Home ownership can be a source of pride and a path to financial stability.
2. Will the tax benefits help you (Mortgage Interest and Property Tax deductions)
3. Can you purchase a home and keep your house payments within your Housing Allowance Budget? (including your taxes and insurance)
4. Is there an “exit strategy” when moving on to a new duty station?
   1. Either place your home on the market or
   2. Rent your home out (let someone else pay your mortgage)

Should you decide to become a home owner be sure to take a look at some of the best opportunities your area may have to offer.  In the Hinesville, Georgia area, just outside of Fort Stewart and Hunter Army Airfield, newly constructed homes may offer the best value. It is not uncommon to find a new home for just $66 per square foot. (www.hsHomesOnline.com)

Seek the advice of your tax professional.  You may be able to write off your Mortgage Interest and Property Taxes when you file your taxes. 

Consider your budget.  Most people can take advantage of the Basic Housing Allowance benefit and use their entitlement to cover their housing expense.   You can use your BAH to cover your house payment and utilities! Fort Stewart BAH Rate. (Current Interest Rates are around 3.875 depending on credit) -- Mortgage Calculator. 

If you decide to purchase a home, you should discuss with your Realtor any program that they may have that may help you in the future.   Some agents will offer to sell your home for a reduced commission if you purchase a home from them and decide to sell the home when you move or leave the area.  There are other ways to save money when you sell your home.  Homes for Heroes is a national company that consists of a network of agents that will offer services for a reduced commission for those who qualify.  

By the way, Homes for Heroes also offers discounts/rebates for the buyer!

Lisa Scales Homes for Heroes Affiliate, Hinesville

The Lisa Scales Team

www.LisaScales.com

912-980-1668 Cell